Click to download the Retail Dictionary Top 50 terms
Here are Molly’s notes from the conference!
21st Century Retailing was presented by Jenny Crittenden, the Executive Director of the Gloucester Main Street Preservation Trust in Gloucester, VA.
Disruption: technologies or innovations that make products and services more accessible and affordable.
People shop downtown because they want to, not because they have to.
Consumer Behavior:
Web-roamer – researched online before going shopping
Show-rooming – looking at it in a store before buying at cheaper price online
Downtown loyalty program – hard part is the internal campaign
Ask for online reviews
60% consumers read these
55% consumers want social interaction
Case study – Bonobos: e-commerce model, look at everything in the store, purchase there and have shipped home.
Relationship Retailing:
Loyalty program
“Try on”: Contact your best customers to let them know of an outfit you think they like, see if they’d like it sent for trying on. Modeling the “outfit boxes” like Stitch Fix
In store pick up
OLXTOTO After hours shopping
Hand written notes
Segmentation: use data to segment the customer base by
Interest & needs
Gender and age
Individualization: always respond and engage
Customer-centricity: revolve around what your customer wants and needs
70% of retail sales happen after 5pm.
Offer personalized shopping
Create customer profiles
Utilize technology
Use digital screens
Use cloud based POS system
Instagram
80% of users connect with business voluntarily on instagram
Instagram stories
Use a key #hashtag Daftar olxtoto
Connect with your customers – respond to comments and shares
Trends
BOPIS – buy online purchase in store
BORIS – Buy online, return in store
BORO – Buy online, return online (free shipping)
How can small businesses personalize?
Beacons in store to show where people are
Find products that allow personalization
For Example…
All Washed up
Pandora
Shoes of Prey
Sephora
Omnichannel Retailing: connect it all together
7% online only
20% store only
73% multichannel: spend more overall, spend more per channel used, breeds loyalty
Omnichannel – having multiple retail presence these ways
Pinterest
Brick & Mortar
Instagram
Facebook
Omnichannel effectively
To maximize web-roaming behavior
Make sure the store inventory is online
Offer click and connect
Store events: Downtown does this best!
Yoga on the patio
Yappy hour – pet owners get wine, pets get treats
Creative in store experiences = sales